MSTR: Trades at 43% Discount to $51B BTC Holdings

MSTR trades at a 43% discount with a $29 billion market cap versus $51 billion in BTC holdings, marking the widest gap since Q4 2022.

Persistent share dilution by MicroStrategy has driven the underpricing, pushing modified net asset value below 1 ahead of the June 30 snapshot.

BTC price action on the 4h chart shows price at $60762.48 testing the upper Bollinger Band resistance at $62179.03 while the RSI at 47.69 remains neutral and the MACD registers a bullish golden cross at -598.73; this confluence points to a likely retracement toward the EMA50 support at $61918.62 before any sustained move higher, with the EMA200 at $66899.47 acting as the next major resistance in the ongoing bearish structure.